Cwm LLC Has $1.78 Million Position in Microchip Technology Incorporated (NASDAQ:MCHP)

Cwm LLC lowered its stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) by 9.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 19,690 shares of the semiconductor company’s stock after selling 2,022 shares during the period. Cwm LLC’s holdings in Microchip Technology were worth $1,776,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in shares of Microchip Technology during the fourth quarter valued at about $27,000. Rakuten Securities Inc. acquired a new position in shares of Microchip Technology during the fourth quarter valued at about $27,000. Fortitude Family Office LLC acquired a new position in shares of Microchip Technology during the fourth quarter valued at about $29,000. OFI Invest Asset Management acquired a new position in shares of Microchip Technology during the third quarter valued at about $26,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Microchip Technology during the third quarter valued at about $36,000. Institutional investors and hedge funds own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

MCHP has been the topic of a number of analyst reports. Evercore ISI initiated coverage on shares of Microchip Technology in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $106.00 target price on the stock. Wolfe Research raised shares of Microchip Technology from a “peer perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Thursday, January 18th. Needham & Company LLC upped their target price on shares of Microchip Technology from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Truist Financial lowered their target price on shares of Microchip Technology from $97.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, January 9th. Finally, StockNews.com cut shares of Microchip Technology from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $92.50.

Insider Buying and Selling at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 1,970 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $83.90, for a total value of $165,283.00. Following the completion of the sale, the chief financial officer now owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO James Eric Bjornholt sold 1,970 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $83.90, for a total transaction of $165,283.00. Following the completion of the sale, the chief financial officer now owns 32,893 shares of the company’s stock, valued at approximately $2,759,722.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Karlton D. Johnson sold 370 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.00, for a total transaction of $31,080.00. Following the sale, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $150,276. The disclosure for this sale can be found here. Insiders own 2.07% of the company’s stock.

Microchip Technology Trading Up 1.7 %

Shares of NASDAQ MCHP opened at $92.21 on Friday. The company’s 50 day simple moving average is $87.00 and its 200 day simple moving average is $84.55. Microchip Technology Incorporated has a fifty-two week low of $68.75 and a fifty-two week high of $94.30. The firm has a market capitalization of $49.83 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.77 and a beta of 1.65. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.98 and a quick ratio of 0.58.

Microchip Technology (NASDAQ:MCHP) last posted its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Microchip Technology had a net margin of 27.59% and a return on equity of 45.59%. The firm’s revenue was down 18.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.48 EPS. On average, analysts predict that Microchip Technology Incorporated will post 4.64 EPS for the current year.

Microchip Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 1.95%. This is an increase from Microchip Technology’s previous quarterly dividend of $0.44. Microchip Technology’s payout ratio is currently 42.06%.

Microchip Technology Company Profile

Microchip Technology Incorporated develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.